ADP Retirement Services Selects mPower to Provide Clients Online Personalized Investment Education and Advice
The Retirement Services Group of ADP, Inc., a wholly-owned subsidiary of Automatic Data Processing, Inc. (ADP ®) announced today the selection of mPower formerly known as 401(k) Forum, to provide online investment education and advice services to its client base. mPower's advice services will be the first in a series of enhancements integrated into ADP's revamped participant Web site (www.mykplan.com).
Through this new alliance, participants in defined contribution plans of ADP Retirement Services' clients will be able to utilize mPower's extensive online advice services and educational content. These services will include detailed fund-specific allocation recommendations tailored to each participant's unique financial situation, risk tolerance and savings goals. In addition to the online advisory services, ADP clients will also gain access to mPower's two investment education Web sites -- 401kafe and IRA Junction.
"We are excited to be adding mPower's industry recognized services to our existing employee education programs," said Mark Phillips Senior Vice President and General Manager, ADP Retirement Services. "We feel strongly that this resource will enable employees to take a more active and informed role in their retirement planning."
"We are pleased to partner with ADP Retirement Services, as they have a prominent position in the industry and a strong understanding of the Internet and its role in enhancing the retirement investment process," said Steve Deschenes, President, mPower. "ADP Retirement Services' clients will benefit from our institutional quality advice services that include the best analyst team in the online investment advice industry, a proven investment methodology and compelling investment education to help individuals reach their financial retirement goals."
ABOUT ADP RETIREMENT SERVICES
ADP Retirement Services, which works with over 9,000 plans ranging in size from one participant to tens of thousands, is dedicated to providing comprehensive retirement plan services to clients of all sizes and in all industries. ADP Retirement Services simplifies the administrative process for the corporate payroll professional or business owner by linking retirement plan recordkeeping services to company payrolls - eliminating paperwork and lowering costs. ADP Retirement Services is part of the Employer Services division of ADP, Inc.- the leading global provider of comprehensive payroll, human resources and benefits administration outsourcing services to companies of all sizes.
ABOUT ADP
Automatic Data Processing, Inc. (NYSE:AUD) is one of the largest global providers of computerized transaction processing, data communications and information services, with more than $6 billion in revenues and more than 450,000 clients worldwide. ADP's Employer Services (ES) division is a leading provider of integrated business administrative solutions that help clients efficiently manage their internal processes, allowing them to focus on core competencies. ADP ES' offerings include both traditional and Internet-based outsourcing products and services, giving clients the ability to select from ADP's comprehensive range of World Class Service solutions. Services include: payroll, tax regulatory management, HRMS, benefits administration, time and labor management, retirement plan services, online recruiting, and pre-employment screening. For more information about ADP Employer Services, or to contact a local ADP sales office, reach us at 1-800-225-5237, ext. 124, or visit the company's Web site at www.adp.com.
ABOUT mPower
mPower.com, Inc. (http://www.mpower.com) is the holding company of mPower Advisors, L.L.C., a registered investment advisor located in San Francisco. The company is dedicated to delivering independent and objective online investment education and advice to investors with 401(k), 403(b) and 457 plans and individual retirement accounts. Under the mPower umbrella is the 401Kafe (http://www.401kafe.com), the first independent online community and content site dedicated exclusively to 401(k) participants nationwide, and IRA Junction (http://www.irajunction.com), the information station for investors with individual retirement accounts.